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Wealth Creation

I wrote this small but powerful digital download a while back. It's filled with solid content for your business including one of the best opportunities that are taking over. Get it now before it's too late.

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Wealth Creation

  1. 1. Table Of Contents Wealth Creations.The American 1 A decision like this requires 2 And some just to help get the 3 Sole Proprietorships: 4 expenses orothermoney matter 5 When workingremotely, you’ll 6 You’ll need aprinterthat can 7 different advantages to LLC, S 8
  2. 2. Wealth Creations. About the Author It would be sel sh for me not to share this with the world.Hi how many of us have been to entrepreneur seminars when some guru walks in the room maybe for a few days res up the room then off to the next state. I know I been through that. Many people who attend feel abandoned, skeptical etc. No more should that happen with this opportunity that I am sharing there are coaches/mentors, community, special banking, contacts. I'm talking about Real Estate Investing the way to create wealth and prosperity for generations to come. 5 Signs that You are Ready to Open Your Own Business. In today’s day and age, everyone has an idea for a business, but not everyone meant to put these plans into action. A decision like this requires a lot of careful consideration. Nevertheless, the real question is how do you know if you are ready to open your own business. Page 1
  3. 3. Wealth Creations. A decision like this requires a lot of careful consideration. Nevertheless, the real question is how do you know if you are ready to open your own business. 1. You Have a Product or Service You Are Passionate About .For a business owner, passion should be everything. How can a business succeed if the owner is not passionate about it? Whatever your business idea is, be it for a product or service, you need to feel strongly about it. 2. You Have a Plan You cannot rely on passion alone when opening up a new business of your own. It is also extremely important to have a plan in mind. This plan needs to outline everything about your business, especially the following: The product or service you are offering The target audience, product pricing, pro t How you intend to gain customers How you plan to measure your success- by number of customers or net income. Also, make note of concerns and potential obstacles, and possible ways to overcome them, so that there is less of a chance of nding yourself caught off guard. 3. You Have the Funds What does a person need to start a business besides an idea and a plan? Money, because starting up a business is not cheap. A new business needs money for many things: Legal fees. Product creation and associated costs Marketing Employee payment Page 2
  4. 4. Wealth Creations. And some just to help get the ball rolling. While it is not cheap, the payoff can be immense. Maybe you have been saving up just for this, or maybe you are willing to take out a loan to make it happen. Either way, if you have access to the funds, it is possible for your dream of having a business of your own come true. 4 You Understand the Risks. Opening a business is no easy feat. Many people have tried and failed, even some of the great business owners we think of today did not make it on their rst try. So, be prepared for that; understand all the potential risks that come with starting a new business. The better you understand the risks, the more prepared you are for running your own business. Wealth building education here. 5 You Have a Support System. Support systems are important in and out of the business setting. Your support system should be full of positive and encouraging people who love you, and support your business ventures. It should also include people who can give you advice when you have problems, or provide insight on better ways to handle certain situations. Ideal people for this situation would include family, friends, and mentors. If you have been contemplating starting a business of your own, and exhibit all of the above, what is holding you back? With the right criteria and a drive to succeed, your dream can become reality. Talk to your support system, go over everything, including the possible outcomes and ask yourself, are you ready for a startup of your own? WOW I just learned.... Page 3
  5. 5. Wealth Creations. Sole Proprietorships: The Easy Way to Start your own business. Did you know that a sole proprietorship is the least expensive and easiest way to start a business? It is also one of the most popular ways to go when starting a home-based business. If you know about different types of businesses, you are aware there are other options, like partnerships and limited liability companies (LLCs), and corporations.While these are all choices for anyone starting a business, if you want to go the easy way, choose a sole proprietorship, Here’s why! Easy to Start Your rst step in setting up a sole proprietorship is for you to start being business minded. It’s simple once you know what type of service or products you’ll offer. You don’t have to ll out any “of cial paperwork” to get started or pay any fees. You are in business for yourself and by yourself. When April rolls around, and taxes are due, you’ll need to ll out a Schedule C that shows your business pro ts and expenses as well as your net income or loss. Some types of businesses do need a special license, even if they are a sole proprietorship. If you operate under a business name, then you may need to le that name with your county or secretary of state for two reasons: This helps to make sure you’re not using a business name already in use and keeps others from stealing yours. It’s also a good way for people to know exactly who they are doing business with. You Have 100 % Control A sole proprietor has full control over every part of his or her business. In the eyes of the law, you and your business are one in the same. There are no employees or payroll to deal with either! Your personal debts are your business debts and you are personally liable for any Page 4
  6. 6. Wealth Creations. expenses or other money matters. Drawbacks You Should Understand Learn more here. While being in control of an easy-to-start business may sound great, and for some it is, there are some drawbacks. Even though you and your business are one, you checking account shouldn’t be. You’ll need a business account to help you prove expenses and revenue for tax purposes. Getting a loan or nancing a sole proprietorship can be a problem if you don’t have good credit. Your credit is your business credit. So, if you credit is damaged, getting nancing for a growing business can be a real challenge. You may need collateral to get the money you need to help keep your business running as it grows. Sole proprietorships aren’t for everyone. Sometimes it’s better to have a partner, especially if you have damaged credit and need money for the business. A partner can help when you are struggling nancially.But, if you plan to offer a service from your home, like writing, editing, accounting, graphic design, or other services , you can easily start up a business with little or no cost and keep it a oat. Pay off you 30 year mortgage in 9 years in stead of 30... without changing your job or doubling down $.... If you don't want to. 5 Must haves for Your home Of ce Setting up a home of ce? It can be exciting as you see your home workspace coming together and know this is your new job site. But, you also need to have the right equipment. You can’t get any work done, unless you have the essentials. To nd out the must-have for your new home of ce, read on. Computer Anyone working from home is going to need a computer. Page 5
  7. 7. Wealth Creations. When working remotely, you’ll need to send and receive emails, documents, and maybe even access certain website for your job. The type of computer is up to you, but it’s best to have a separate computer for work than for family use. You don’t want les being accidently erased or all you memory cluttered with games and such. A Comfortable Chair If you’re planning to be sitting at your desk in your of ce for hours every day, you need a comfortable chair. Choose the style and color you want, but look for one with an ergonomic design. Here are some things to keep in mind when shopping for a comfortable chair: Make sure it has lumbar support that molds to the shape of your back Make sure it is adjustable so you can keep your feet rmly on the oor while sitting Look for armrests that allow you to relax your shoulders; you don’t want tension Choose a chair with a 5-wheel base for more stability Look for designs that have breathable upholstery These tips should help you nd a comfortable chair, so you don’t have neck and back pain. A Paper Shredder Identity theft happens every day, and you don’t want it to happen to you. The paper shredder is not only to protect your personal information, but also personal business information: Client lists Bank statements Other business info you want to keep safe To be extra cautious, buy a paper shredder that cross cuts the shreds and turns you document into confetti. All-In-One Printer Page 6
  8. 8. Wealth Creations. You’ll need a printer that can handle a variety of tasks: Sending Faxes Making copies Making color copies and prints Having a printer that can handle all these tasks can save you money and space. It also makes it nice to send and receive a fax quickly instead of waiting on documents in the mail. Surge Protector If you’ve just buy new of ce equipment and you don’t want electrical spikes frying you new electronics, you need a surge protector. Not all outlet strips are surge protectors, so you need to make sure you are getting that protection when buying one. If you’re unsure, ask a sales associate to help you. These are a few necessities you will need. Of course you’ll nd other gadgets that you may want or that can come in handy, too. Like label makers, calculator and maybe even a ling cabinet. But, you have time to get other of ce items as you nd a need for them. I'm just learning. I don't have all the answers my mentor is having a class tag along with me. All in one platform. click to learn more. What is an LLC? If you are an entrepreneur, you may be wondering what type of business structure you should go with. It more or less comes down to what size company you will be starting. If you are going to have a smaller business and want to go with something that is simple and not very complex than an LLC might be your best option. LLC stands for Limited Liability Company. Main Advantages of LLC When choosing a business structure, you rst have to think of what you need. There are Page 7
  9. 9. Wealth Creations. different advantages to LLC, S Corps, and C-Corps. You always need to look at what each one offers before making your decision. With an LLC, you receive a few different advantages. Pass-through taxes are one of the main bene ts of LLC. Since you are not a corporation, you don't have to worry about ling a corporate tax return. You simply add it to your personal return. Therefore, you don't have to deal with a double tax. Your credibility will raise. When you have formed, an LLC people will nd you more credible and trustworthy. If you have an LLC company, it will be easier for you to nd partners, clients, and lenders. This will help get your company up and moving more quickly. The main disadvantages of forming an LLC is it puts a limit on your company's growth potential. You won't be able to offer stocks to potential investors as well. Some states also charge you a self-employment tax, even if your company did not make much pro t. Choosing an LLC When it comes down to if you really should choose an LLC, you need to consider your company goals, both long term and short. If you plan on keeping your company small than an LLC is for you. It may also be for you if you don't plan to expand for quite some time. However, if you want rapid growth, you may consider going with a different route. An LLC is not for everyone. However, if you want to get started on one, contact the Secretary of State in your area. The school system didn't teach this. No GED or Diploma required. Page 8
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  11. 11. Thank You We Welcome Your Feedback feel free to get in touch with us for any feedback or questions. Connect with me on Facebook You can also nd me on YouTube

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I wrote this small but powerful digital download a while back. It's filled with solid content for your business including one of the best opportunities that are taking over. Get it now before it's too late.

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